UAE’s Al Marri plays ‘father of the bride’ at Investopia
The Abu Dhabi confab aims to also drive investment into fast-growing sectors
ABU DHABI, United Arab Emirates – Surveying the thousands of investors and business leaders rubbing shoulders at the Investopia conference in Abu Dhabi, UAE Minister of Economy Abdullah bin Touq Al Marri said he felt like “the father of the bride” at a wedding. “I just want to make sure everyone is happy and well fed,” he told The Circuit’s Kelsey Warner this morning.
Keeping participants comfortable at the third edition of Investopia, which the Minister chairs, is a fairly light lift, with the St. Regis resort on Saadiyat Island offering a backdrop of swaying palm trees and turquoise waters.
Engaging them is another matter as the confab aims to also drive investment into fast-growing sectors like technology, capital markets and tourism to the UAE.
Al Marri has said that by the 2030s, the UAE will “take the number one position globally in the development of proactive legislation for new economic sectors.”
Funds that manage a total of more than $500 billion in assets are attending, according to organizers. Top of mind and regularly popping up in conversation for the largely American crowd are the implications of an election year in the U.S. and the direction of interest rates.
Al Marri, for his part, expressed his desire for lower rates to spur investment: “There will be a movement of capital that will [boost] investments into new areas and move the economy forward. So we hope that can happen by this year,” he said.